With each passing day, we are moving towards a moneyless society, the place all kinds of payments are made digitally. As we speak making digital payments for all our every day tasks has turn into the new normal and in coming years we might totally rely upon it thus eradicating cash payments.
The evolving payment infrastructure and varied FinTech innovations are unlocking numerous digital payment avenues which had been earlier untapped. In recent years, parking funds is one such avenue that has drawn the eye of many FinTechs and digital cost resolution providers. Making digital payments at parking garages may sound fancy to many.
But in reality, customers and parking space owners are embracing this idea with their both hands. In this weblog, we will talk about in detail about the rise of digital parking solution, it is working, and its a number of benefits for each users and parking space owners.
Rise of digital parking
Because the city creatorities take essential steps to achieve their smart city vision, it’s also transforming numerous traditional infrastructures including that of traditional parking. In many cities, traditional parking is now being developed into digital parking as universities, city garages, shopping malls, and airports already embracing this technology.
As of now, the digital parking has rendered positive results by improving quality of life for a lot of several residents. Even stats are in favour of digital parking.
Within the UK, only a minor portion of sixteen% of drivers desire payments by money, whereas, the remaining portion want making parking funds via contactless methods, website, app, or by card. These stats virtually reverse when the age group is of 50-64 or 65+. These stats also fluctuate relying upon the household income.
Digital parking payment solution leverages real-time information that enables users to get the list of unreserved and reserved parking spots. The main objective behind employing digital parking cost answer is to assimilate automation within the parking lifecycle. Digital parking ensures that there’s no wastage of time when a user is searching for a parking spot.
Digital parking is a win-win situation for both parking house owners as well as the ones searching for the parking spots. However earlier than looking at its advantage let’s have a look at what’s really a digital parking payment resolution is.
What’s a digital parking cost solution?
A moneyless parking fee answer is a payment system that doesn’t require any physical cash for making transactions pertaining to parking. It’s a quick and idiotproof way to make mobile cash payments for parking.
Digital parking includes payments by way of credit card, debit card, and e-wallet. This makes digital parking easier and handy for customers the place they will make funds on the spot without the hassles of keeping cash.
How does it work?
Digital parking is mostly enabled by smart parking mobile applications the place a person has to finish a registration process. In this registration process, the user additionally registers his vehicle. As soon as the vehicle is registered, the user can seek for all of the close by parking garages.
After choosing the parking garage, the consumer can set choose the parking length and then start the payment process. The person can make funds by way of numerous modes like debit/credit cards, e-wallets, NFC, RFID, and by scanning QR-code.
The consumer receives a cost affirmation notification as soon as the cost is completed. Moreover, the consumer also can also be reminded when his parking session is about to complete. The user can then high-up their session for parking directly from their smartphone without returning to the car.